Forensic Risk
Distress and earnings-quality flags computed from each company's latest filed annual statement. Every figure comes from the filing — where a statement lacks the inputs, the score reads unavailable rather than being estimated.
What can be useful
A company drifting toward the distress zone while still reporting profits is worth a closer read of its cash flow.
What needs caution
These are screening flags, not verdicts. A low score is a reason to investigate, never a standalone sell signal.
Data note
Not meaningful for banks, NBFCs or insurers — their balance sheets don't split current vs non-current, so the score is withheld rather than guessed.
A bankruptcy-risk score (the emerging-market Z″ variant) built from working capital, retained earnings, operating profit and equity relative to the balance sheet. Higher is safer. It is a statistical screen, not a prediction.
How many of five red flags fired on the latest annual statement. Click the number to see which ones.
- Altman Z″ in the distress zone
- Accruals above 10% of assets (profit not backed by cash)
- Interest coverage below 1.5×
- Negative operating cash flow
- Reported net loss
Accruals = (net profit − operating cash flow) ÷ total assets.
High positive values mean reported profit is not arriving as cash.
Int. cover = EBIT ÷ interest expense. Below ~1.5× the company
barely covers its interest bill; negative means operating profit is negative.